Lithium Australia involved in IPO of LiGeneration

Published at Aug 3, 2016, in Mining

Lithium Australia (ASX:LIT) has announced a Canadian alliance with LiGeneration Limited.

Seed capital has been provided by LIT to LiGeneration which is planning to list on the Australian stock exchange through an IPO by the end of the year.

Shareholders in LIT will be given priority entitlement to IPO share subscriptions in the LiGeneration float.

LIT will be a significant shareholder in LiGeneration and will provide both technical and administrative support.

LiGeneration’s assets include lithium pegmatites located in Quebec, Canada. Of which the IPO hopeful owns a 100% interest of the Whabouchi Southwest and Southeast lithium projects.

The more than 14,000ha area covered in three separate projects neighbours the world-class Nemaska Lithium Whabouchi Mine with is the second largest and richest global lithium reserve.

LiGeneration also holds a 100% stake in the Wells-Lacourciere lithium project. Historical exploration at the site consisting of trenching and bulk sampling returned assay results between 2.87% Li2O and 4.0% Li2O.

There is no guarantee the IPO of LiGeneration will add market value to LIT and its shareholders, so seek professional financial advice if considering LIT for your portfolio.

Further to the announcement surrounding LiGeneration, LIT has lodged a provisional application for an Australian patent with corresponding trademarks in relation to a caustic digestion process which has been entitled LieNA.

LIT has also confirmed that it has received funds to fully pay up the remaining two holdings in the LITCD series. Upon clearance of the funds and corresponding shares have been issued, Lit will make an application to the ASX for the current series of unlisted partly paid shares to become listed. To which an Appendix 3B will be issued in due course.

LIT presented this week at the Diggers and Dealers forum in Kalgoorlie, Western Australia.

The full presentation can be found here.



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!